If you and your spouse have decided to sell your home and split the proceeds as you divorce, you’ve already reached an agreement on something that many couples battle over — even if you did so because this was the only viable option. Now comes what can be the hard part — working together to get the best price without too much delay.
A good first step is to find a real estate agent you both trust and who has sold homes for couples who are splitting up. Most agents have some experience with that. If your relationship is less than amicable, you may want to choose a Certified Divorce Real Estate Expert (CDRE). These are agents who have training in dealing with divorcing spouses separately and together as well as in some of the unique considerations of selling a home in divorce.
Key decisions to make early in the process
Depending on what kind of sale price you want to put on the property and how quickly you want to sell it, you’ll need to decide (with the help of your agent) how much time and money to put into repairs and upgrades and how you’ll split the cost (as well as how much of that work you’ll do yourselves).
You’ll also need to determine who will handle the regular maintenance of the property until it’s sold. If you already have a landscaper, housekeeper, pool maintenance service and so forth, you’ll want to determine how the cost of those will be divided. If you do all of these things yourselves, you’ll need to decide how to divide the chores – especially if one of you has already moved out.
Real estate experts advise that one spouse remain in the home until it’s sold. Homes typically sell better when agents and prospective buyers get the sense that a home is still lived in. If the owners have clearly moved out, it’s easy to assume that they’re anxious to unload the home and may take the first decent offer they get.
It’s crucial for each spouse to consult with their own legal team during this time. The sale of the home plays an important role in the overall property settlement.